New America Energy Corp. (NECA) announced that David Fair, CEO of Third Bench, received recognition as one of the 40 Under 40 leaders in the woodworking industry. Fair co-founded Third Bench, a holding company focused on cabinetry and millwork, and has nearly doubled its revenues since 2019, projecting a 50% increase for 2021. Fair's strategic initiatives led to operational efficiencies and expansion plans for coast-to-coast service. Third Bench operates over 140 employees and generated more than $18.8 million in revenue in 2020, with a projected run rate exceeding $24 million for 2021.
New America Energy Corp. (OTC PINK:NECA) has officially acquired Third Bench Holdings, a prominent player in the kitchen and bathroom cabinetry market. This acquisition is projected to generate approximately $24 million in gross revenue for NECA in 2021. Third Bench specializes in architectural millwork and has reported revenues exceeding $18.8 million in 2020. The acquisition aligns with NECA's strategy to enhance cash flow through well-managed, established businesses.
New America Energy Corp. (OTC PINK:NECA) announced a Binding Letter of Intent to acquire Third Bench Holdings, a leader in kitchen and bathroom cabinetry, which is expected to enhance NECA's cash flow immediately. CEO Jeff Canouse expressed enthusiasm about this strategic acquisition, which follows NECA's plan to become fully reporting. Third Bench, operating in the Western U.S. and generating over $18.8 million in revenue in 2020, anticipates further growth as a public entity. This acquisition aims to capitalize on the growing demand in residential and commercial sectors.
New America Energy Corp (OTC PINK: NECA) has signed an Arrangement Letter with B.F. Borgers CPA PC to focus on audits for Fiscal Years 2019 & 2020, as well as the most recent quarter ending May 31, 2020. CEO Jeff Canouse stated that the company has achieved Pink Current status and aims to become fully reporting by completing these audits. The partnership with Borgers is based on a longstanding relationship, which Canouse anticipates will streamline the process. New America Energy seeks strategic acquisitions that are cash-flow positive with hard assets.
New America Energy Corp. (NECA) has signed a Letter of Intent to acquire a family entertainment center in South Carolina, with negotiations starting weeks earlier. The acquisition includes the FEC's operations, physical building, and surrounding land, aiming to enhance NECA's cash flow immediately. This marks the beginning of NECA’s strategy to acquire more FECs in the Southeast, capitalizing on opportunities as the economy recovers post-COVID. The entertainment center features bowling lanes, an arcade, party rooms, and more, aligning with market trends favoring social experiences.
New America Energy Corp. (NECA) has appointed John Canouse to its Advisory Board, marking the company's first addition to this board. Canouse, a noted executive, brings over 30 years of experience in building successful companies and navigating start-ups. He is the co-founder of Stars and Strikes Family Entertainment, a leading family entertainment center. This appointment is non-compensatory, focusing on advisory roles to aid New America Energy in its growth strategy. CEO Jeffrey Canouse expressed enthusiasm for the expertise that John Canouse will contribute to the organization.